Bailador Technology Investments, an ASX-listed venture capital firm, has led a $25 million Series A funding round for real estate investment platform PropHero.
Bailador contributed $12.5 million to the round, with participation from existing investors, including AfterWork, Jelix Ventures, Samaipata, Fifth Wall, and Opera Tech Ventures.
Founded in 2021, PropHero operates as an AI-driven property investment platform, assisting individuals in sourcing, purchasing, and managing investment properties. The company previously raised an $8 million seed round in October 2022, led by Fifth Wall, following a $1.6 million pre-seed investment.
With the latest funding, PropHero’s valuation has reportedly doubled from $50 million in 2022 to $100 million. The company currently operates in Australia, Spain, Indonesia, and Ireland, serving over 2,000 clients and generating an annual run rate revenue of $35 million.
The capital will be used to enhance product development, expand the platform’s marketplace partner network, and support international growth. PropHero offers a suite of services, including conveyancing, mortgage broking, renovations, property management, and insurance.
Bailador co-founder David Kirk will join the PropHero board, citing the property sector’s need for better digital transaction solutions. “PropHero provides a scalable investment solution, demonstrated by strong customer growth, high retention rates, and word-of-mouth referrals,” Kirk said.
PropHero co-founder Mickael Roger stated, “This investment allows us to further develop our AI capabilities and enhance our platform to better serve investors.”
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By Proptechbuzz
By Ravi Kumar
